Panasonic Inaugurates new consumer lithium-ion battery factory in China to Respond to Global Demand
Panasonic held a dedication ceremony on July 16 to mark the completion of a new consumer lithium-ion battery factory built within the premises of its existing factory in Suzhou, China. The new facility, now in operation, enables integrated production from polar plates to cells and battery packs within the Suzhou site. Lithium-ion batteries are expected to find wider applications in the new fields, including storage for solar and other renewable energy sources and as a power source for environmentally friendly vehicles. To meet such demand, Panasonic has set up integrated production systems in its three battery manufacturing bases in China: Suzhou, Wuxi and Beijing.
Panasonic will fully utilize these facilities to increase production of consumer lithium-ion batteries and cut costs by lifting the production ratio in China, procuring materials locally and reducing logistics costs. The reinforced production in China will not only facilitate cost reduction but also enable the company to hedge foreign exchange rate risk.